Puzzle of three CEOs in a month at National Oil

State-owned National Oil Corporation of Kenya (Nock), which was recently revealed to be operating at the mercy of bank overdrafts and facilities from commercial lenders, has become the latest showground for competing political interests and corporate intrigues after earning the dubious distinction of having three bosses in one month.

Uncertainty reigned at the oil firm following the resignation of MaryJane Mwangi at the beginning of this month after a board meeting that ended with the boss opting not to renew her contract. The board then picked James Nyamongo, who works at Kenya Pipeline Corporation (KPC), to replace Ms Mwangi.

Mining and Petroleum Cabinet Secretary John Munyes overruled the decision by Nock’s board just five days after he was appointed.

“In my capacity as the Cabinet Secretary for Petroleum and Mining…appoint Mr George Kubai as the Acting CEO, National Oil Corporation of Kenya until a substantive CEO is recruited,” Mr Munyes wrote on October 15, leaving employees and stakeholders puzzled.

Nock staff who spoke to the Business Daily said the company MD’s office remained vacant following the corporate turmoil that started after the board announced the appointment of Mr Nyamongo to take over before he was removed under unclear circumstances.

Mr Munyes is represented on the board by his PS Andrew Kamau and it remains unclear how the sudden changes were arrived at even as sources intimated at “warring factions” within the ministry for the confusion at Nock and other State agencies under the Ministry of Petroleum including Kenya Pipeline Company (KPC) where another acting CEO had a term extension. KPC acting boss Hudson Andambi could not confirm whether Mr Nyamongo was back at the agency’s offices.

“That is a question I can’t answer now, but of course he (Mr Nyamongo) is ours as much as we were to formalise secondment at Nock. The decision has been made at another level and there are many things to do here than looking for a member of staff… he could be here but I can’t confirm for now,” Mr Andambi said.